The following information pertains to the fiscal year-end accounts of Coastal Enterprises, Inc., as of December 31, 2023:

• Accounts receivable: $110,000
• Retained earnings, January 1, 2023: $340,000
• Loss on operation of discontinued operations (before tax): $110,000
• Sales revenue: $1,600,000
• Cost of goods sold: $840,000
• Selling expenses: $160,000
• Cash: $85,000
• Common shares (35,000 common shares outstanding): $275,000
• Dividend revenue: $19,000
• Inventory: $135,000
• Unearned revenue: $6,000
• Equipment: $460,000
• Interest expense: $24,000
• Administrative expenses: $175,000
• Loans payable (maturity 2029): $205,000
• Accounts payable: $88,000
• Gain on disposal of discontinued operations (before tax): $180,000
• Depreciation expense: $57,000
• Loss on sale of machinery (before tax): $16,000

Coastal Enterprises, Inc. is subject to a 27% income tax rate.

Requirements:

1. Prepare a multiple-step income statement for Coastal Enterprises, Inc. for the year ended December 31, 2023.
2. Compute the earnings per share if needed.
3. Calculate the operating profit margin.
4. Determine the net income.